Twenty-First Century Fox is expected to report second-quarter fiscal 2019 results soon.
Investors should note that the majority of Twenty-First Century Fox’s film and television assets will be acquired by Disney (DIS - Free Report) in a cash-and-stock deal worth $71.3 billion. The acquisition is expected to close in the first half of calendar year 2019. Following the acquisition, a new entity called Fox Corporation will be formed, which will host an array of sports, news and entertainment content from the likes of FOX Sports, FOX News, FOX Network and FOX Television Stations.
Estimate Revision Trends
The company’s earnings beat the Zack Consensus Estimate in two of the trailing four quarters, delivering average positive surprise of 3.6%.
In fiscal first-quarter 2019, adjusted earnings increased 6.1% from the year-ago quarter to 52 cents per share. Revenues increased 2.5% from the year-ago quarter to $7.18 billion.
Notably, the Zacks Consensus Estimate for second-quarter fiscal 2019 earnings has remained stable at 31 cents per share over the past seven days, indicating a decline of 26.2% year over year.
Nevertheless, the consensus mark for revenues, which is pegged at $8.6 billion, indicates 6.8% year-over-year increase.
Twenty-First Century Fox, Inc. Price and EPS Surprise